December
2004

Oiltanking Now in the Middle East, Too

Oiltanking expands its business activities to the Middle East, and is now present in the United Arab Emirates (UAE) and in neighboring Oman.

Tank terminal in Jebel Ali, UAE Towards the end of 2004, Oiltanking obtains a stake in Star Energy Resources Ltd., a company which operates a tank terminal for petroleum products and liquid chemicals in the port of Jebel Ali. The tank terminal, managed by both partners, operates under the name Star Energy Oiltanking. The terminal has a total capacity of 610,000 cbm, and its facilities include 23 tanks, two jetties and a truck-loading station. The strategically convenient location plus the terminal’s excellent equipment combined with the country’s top infrastructure make Jabel Ali an ideal site for handling petroleum products and liquid chemicals.

Jetty and tank terminal in Sohar, OmanIn a joint venture with Odfjell, Oiltanking will operate both the deep-sea terminal and the independent terminal in the port of Sohar in the future. It should start operating by the end of 2006. To this end, Oiltankingand Odfjell ASA sign a contract with the Sohar Industrial Port Company (SIPC) in November 2004. The jetties, which can accomodate vessels up to 100,000 dwt, will remain in the possession of the Port of Sohar.This is a very attractive location, as Sohar is increasingly developing into a leading industrial region.